Hellenic Carriers Ltd Announces Fleet Deployment Update.
News Release
Design Systems & Technologies - NDAR
January 18, 2011
Press Release 18 January 2011
Fleet Deployment Update
Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that its wholly owned subsidiary Vergina Shipping Corp., the shipowning company of M/V Konstantinos D has entered into a time charter agreement with an unaffiliated third party for a period of 4 - 7 months. The daily hire rate has been fixed at US$ 9,250 gross for the first 40 days and US$ 14,200 thereafter.
The charter commenced on 14 January 2011. The earliest expiration date is 14 May 2011 and the latest 14 August 2011.
The M/V Konstantinos D is a 50,326dwt Supramax vessel built in 2000 at Mitsui Engineering and Shipbuilding, Japan.
Following the time charter of Konstantinos D, the estimated time charter coverage for the first half of 2011 is approximately 52% and 26% for the whole of 2011.
Fotini Karamanlis, Chief Executive Officer, commented: “We are pleased to announce this new employment agreement for M/V Konstantinos D. Hellenic continues to implement its balanced chartering strategy aiming to secure visible and stable cash flows. We consider that the short to medium term volatility will remain a prevalent factor in the dry bulk shipping market. We will continue to monitor the effect of the new building tonnage delivered throughout 2010 and the substantial orderbook of vessels scheduled to be delivered within 2011 and we believe that Hellenic remains well positioned to take advantage of market opportunities as these occur.
The deployment of the fleet is as follows:
Vessel
Type
Year Built
Yard
Carrying Capacity
(dwt)
Charter Type
T/C Earliest Expiration Date
Daily Charter Rate US$ (Gross)
M/V Hellenic Sea
Panamax
1991
Jiangnan Shipyard, China
65,434
T/C
29/04/2011
23,300
M/V Hellenic Sky
Panamax
1994
Sasebo Heavy Industries, Japan
68,591
T/C
20/03/2011
22,000
M/V Hellenic Horizon
Handymax
1995
Halla Engineering & Heavy Industries, Korea
44,809
Trading Spot
-
-
M/V Konstantinos D
Supramax
2000
Mitsui Engineering & Shipbuilding, Japan
50,326
T/C
14/05/2011
9,250(1)
M/V Hellenic Wind
Panamax
1997
Tsuneishi, Shipbuilding, Japan
73,981
T/C
14/05/2011
54,000
(1) The rate applies for the first 40 days and increases to US$ 14,200 thereafter.
Fleet Deployment Update
Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that its wholly owned subsidiary Vergina Shipping Corp., the shipowning company of M/V Konstantinos D has entered into a time charter agreement with an unaffiliated third party for a period of 4 - 7 months. The daily hire rate has been fixed at US$ 9,250 gross for the first 40 days and US$ 14,200 thereafter.
The charter commenced on 14 January 2011. The earliest expiration date is 14 May 2011 and the latest 14 August 2011.
The M/V Konstantinos D is a 50,326dwt Supramax vessel built in 2000 at Mitsui Engineering and Shipbuilding, Japan.
Following the time charter of Konstantinos D, the estimated time charter coverage for the first half of 2011 is approximately 52% and 26% for the whole of 2011.
Fotini Karamanlis, Chief Executive Officer, commented: “We are pleased to announce this new employment agreement for M/V Konstantinos D. Hellenic continues to implement its balanced chartering strategy aiming to secure visible and stable cash flows. We consider that the short to medium term volatility will remain a prevalent factor in the dry bulk shipping market. We will continue to monitor the effect of the new building tonnage delivered throughout 2010 and the substantial orderbook of vessels scheduled to be delivered within 2011 and we believe that Hellenic remains well positioned to take advantage of market opportunities as these occur.
The deployment of the fleet is as follows:
Vessel
Type
Year Built
Yard
Carrying Capacity
(dwt)
Charter Type
T/C Earliest Expiration Date
Daily Charter Rate US$ (Gross)
M/V Hellenic Sea
Panamax
1991
Jiangnan Shipyard, China
65,434
T/C
29/04/2011
23,300
M/V Hellenic Sky
Panamax
1994
Sasebo Heavy Industries, Japan
68,591
T/C
20/03/2011
22,000
M/V Hellenic Horizon
Handymax
1995
Halla Engineering & Heavy Industries, Korea
44,809
Trading Spot
-
-
M/V Konstantinos D
Supramax
2000
Mitsui Engineering & Shipbuilding, Japan
50,326
T/C
14/05/2011
9,250(1)
M/V Hellenic Wind
Panamax
1997
Tsuneishi, Shipbuilding, Japan
73,981
T/C
14/05/2011
54,000
(1) The rate applies for the first 40 days and increases to US$ 14,200 thereafter.